Kerala HC rejects bail to Anand Kumar in Rs 1,000 crore CSR scam

Kochi: The Kerala High Court, on Wednesday, rejected the bail application of K.N. Anand Kumar, the founder and managing trustee of the National NGO's Confederation, who remains in judicial custody over his alleged involvement in a Rs 1,000 crore CSR scam.

Kumar was apprehended last month by the Crime Branch division of the Kerala Police in connection with a large-scale fraudulent scheme that deceived thousands of individuals across the state. Following his arrest, Kumar reportedly suffered cardiac complications and was admitted to a prominent private hospital in Thiruvananthapuram, the state capital.

The High Court has previously expressed strong disapproval regarding the tendency of certain influential individuals to claim health issues post-arrest to evade imprisonment. The court emphasised that hospitalisation outside jail facilities should only be permitted when the medical amenities available within the prison are insufficient.

As per the investigation, Kumar allegedly received Rs 10 lakh per month over several months from 28-year-old Ananthu Krishnan, identified as the principal mastermind behind the scam. Krishnan, described as the mastermind of the fraudulent operation, is currently in judicial custody, while Kumar has been named the second accused in the case.

The fraudulent scheme orchestrated by Ananthu Krishnan and his associates revolved around luring victims with promises of high-value consumer goods—such as scooters, laptops, and sewing machines—offered at merely half their market price, under the pretence of a CSR initiative.

Through an aggressive promotional campaign, the operation managed to ensnare thousands of unsuspecting individuals who believed they were seizing a golden opportunity facilitated by corporate sponsorship.

As the deception unravelled, numerous victims began to come forward, revealing how they had invested their hard-earned savings into what initially appeared to be an irresistible offer. However, when the pledged products failed to be delivered, complaints poured in from across Kerala, compelling law enforcement to launch an extensive investigation.

The probe conducted by the Crime Branch uncovered the massive scale of the operation, with over 500 cases of financial fraud registered across all 14 districts of the state.

With the Kerala High Court now denying bail to K.N. Anand Kumar, a prominent figure in the state's social and cultural circles, he will remain in judicial custody alongside Krishnan, the alleged mastermind of the scam.

(inputs from IANS)